RE:What is the Republican 2024 platform?I do not think it matters who wins the next US election. For the last year the rig count keeps decreasing. US production has mostly been flat. Companies could drill more if it was profitable but I guess it is not.
https://ycharts.com/indicators/us_crude_oil_production Oil companies do not seem overly enthusiastic about drilling their tier 2 or tier 3 acreage when WTI is under $80 US. The days of US shale being an unlimited resource are over. Drilling what is left as fast as you can so you can sell it cheap does not make shareholders happy. No more drill baby drill. Consolidation and only drilling where profits can be maximized is the theme now.
I like it. BTE is well positioned on both sides of the border to take advantage of this. The immense cash flow going to share buybacks and debt repayment will ultimately be rewarded. We just have to wait until the latest AI / Nvidia tech bubble implodes.